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Surge Copper Corp
Symbol SURG
Shares Issued 129,187,581
Close 2021-02-24 C$ 0.61
Recent Sedar Documents

Surge Copper drills 484 m of 0.42% CuEq at Ootsa

2021-02-24 06:03 ET - News Release

Mr. Leif Nilsson reports

SURGE COPPER INTERSECTS 484 METRES OF 0.42% CUEQ AT WEST SEEL, INCLUDING 70 METRES OF 0.63% CUEQ FROM 46 METRES DEPTH

Surge Copper Corp. has released assay results for multiple resource definition and exploration holes from the company's 100-per-cent-owned Ootsa property in British Columbia.

A 15,000-metre drill program is currently under way along the Seel trend at Ootsa. One drill is focused on testing the expansion and near-deposit exploration potential at the West and East Seel porphyry Cu-Au-Mo-Ag (copper-gold-molybdenum-silver) deposits, and the second is testing new exploration targets. Assays for 15 holes are pending and will be released regularly as they are received and interpreted.

Highlights:

  • Hole S20-220 successfully traced higher-grade mineralization at West Seel to near surface, highlighted by 70.0 metres of 0.63 per cent copper equivalent (0.26 per cent copper, 0.26 gram per tonne gold, 0.019 per cent molybdenum and 7.1 g/t silver), starting from 46.0 metres downhole, within a total intercept of 484.0 metres of 0.42 per cent CuEq (0.19 per cent copper, 0.14 g/t gold, 0.018 per cent molybdenum and 3.9 g/t silver).
  • Hole S20-224 intersected 400.0 metres of 0.37 per cent CuEq (0.18 per cent copper, 0.11 g/t gold, 0.018 per cent molybdenum and 3.3 g/t silver) from 34.0 metres, including 50.0 metres of 0.53 per centt CuEq (0.25 per cent copper, 0.17 g/t gold, 0.018 per cent molybdenum and 6.2 g/t silver) beginning at 102.0 m downhole depth.

Dr. Shane Ebert, vice-president, exploration, commented: "West Seel is known to contain a large high-grade zone at depth, and part of the 2020/2021 field program is aimed at tracing some of this high-grade mineralization nearer to surface. We are very pleased to see multiple holes from this program identifying long intercepts of continuous mineralization starting near bedrock surface, and locally containing higher-grade, near-surface zones, which are expected to enhance open-pit characteristics of the deposit."

Holes S20-220 and S20-224

Hole S20-220 was drilled at the West Seel deposit at an azimuth of 208 degrees and a dip of minus 50 degrees to a total depth of 1,069.6 metres. Hole S20-224 was drilled on the same section as S20-220 at an azimuth of 24 degrees and a dip of minus 50 degrees to a total depth of 779 metres. Both holes have successfully encountered long intercepts of mineralization and have locally extended high grades to near bedrock surface. Assay results for holes S20-220 and S20-224 are shown in the associated table.

                 SUMMARY OF ASSAY RESULTS FOR HOLES S20-220 AND S20-224      
           
Drill hole     From      To     Width (1)   CuEq (2)       Cu       Au         Mo        Ag
                (m)     (m)           (m)        (%)      (%)    (g/t)        (%)     (g/t)

S20-220        46.0   530.0         484.0       0.42     0.19     0.14      0.018       3.9
including      46.0   116.0          70.0       0.63     0.26     0.26      0.019       7.1
including     452.0   530.0          78.0       0.62     0.27     0.20      0.039       3.5
S20-224        34.0   434.0         400.0       0.37     0.18     0.11      0.018       3.3
including     102.0   152.0          50.0       0.53     0.25     0.17      0.018       6.2
including     298.0   330.0          32.0       0.60     0.30     0.19       0.27       3.6

(1) Width refers to drill hole intercepts; true widths have not been determined. 
(2) CuEq (copper equivalent) has been used to express the combined value of copper, gold, 
molybdenum and silver as a percentage of copper, and is provided for illustrative purposes 
only. No allowances have been made for recovery losses that may occur should mining 
eventually result. Calculations use metal prices of $3 (U.S.) per pound copper, $1,800
(U.S.) per ounce gold, $10 (U.S.)/lb molybdenum and $22 (U.S.)/oz silver, using the 
formula CuEq per cent equals Cu per cent plus (Au g/t times 0.875) plus (Mo per cent 
times 3.33) plus (Ag g/t times 0.0107).

Hole S20-218

Hole S20-218 was drilled into the East Seel deposit. Results for the upper portion of the hole have been previously released (see Surge's Nov. 26, 2020, news release) and returned 126 metres grading 0.89 per cent copper equivalent (0.43 per cent copper and 0.5 g/t gold). The hole targeted a prominent chargeability and resistivity geophysical anomaly located on the east side of the East Seel deposit and successfully intersected strong alteration with zones of quartz-pyrite veining and breccias through the target area. Assays for the bottom portion of the hole from 230.0 metres to the end of the hole at 584.8 m depth have been received and are presented here. The bottom portion of the hole contained widespread anomalous gold from 312.0 metres to 466.0 metres depth, ranging from below detection (less than 0.005 g/t gold) to 1.13 g/t gold, averaging 0.11 g/t gold over 154.0 metres. Zones of stronger gold mineralization occur within this interval including 0.48 g/t gold over 14.0 metres from 382.0 to 396.0 m depth. This large zone with elevated gold values represents a new and promising peripheral gold target on the edge of the East Seel porphyry system.

           SUMMARY OF ASSAY RESULTS FOR THE LOWER PORTION OF HOLES S20-218 
                  
Drill hole               From               To        Width (1)            Au            Ag
                          (m)              (m)              (m)         (g/t)         (g/t)

S20-220                  46.0            530.0            484.0          0.14           3.9
including                46.0            116.0             70.0          0.26           7.1
including               452.0            530.0             78.0          0.20           3.5
S20-224                  34.0            434.0            400.0          0.11           3.3
including               102.0            152.0             50.0          0.17           6.2
including               298.0            330.0             32.0          0.19           3.6
    
(1) Width refers to drill hole intercepts; true widths have not been determined.
 

Hole S20-221

Hole S20-221 was drilled at the East target and tested a portion of a geophysical anomaly located 800 metres northeast of the East Seel deposit. Hole S20-221 was drilled at an azimuth of 90 degrees and a dip of minus 60 degrees to a total depth of 576 metres. The hole intersected 90 metres of overburden before encountering bedrock and did not test the high-grade West Damascus fault target. The hole did not encounter any intervals of significant mineralization but did intersect several zones with elevated gold, silver, copper and zinc. From the start of bedrock at 90 m to 150 m depth the hole encountered a zone of clay and pyrite alteration containing anomalous gold ranging from below detection (less than five parts per billion gold) to 0.16 g/t gold. Within the hole silver values ranged from below detection (0.3 g/t silver) to 30.1 g/t silver, copper values ranged from trace to 0.18 per cent copper, and zinc ranged from trace to 0.55 per cent zinc.

Drill program update

Two drill rigs are active on the property, 20 holes have been completed and two holes are currently in progress. Results for five holes have been received and released. A further 15 holes have been completed, processed and submitted to the lab for assay with results pending.

Quality control

All drill core is logged, photographed and cut in half with a diamond saw. Half of the core is bagged and sent to Activation Laboratories Ltd. in Kamloops, B.C., for analysis (which is ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) 17025 accredited), while the other half is archived and stored on site for verification and reference purposes. Gold is assayed using a 30 g fire assay method and 37 additional elements are analyzed by induced coupled plasma (ICP) utilizing a four-acid digestion. Duplicate samples, blanks and certified standards are included with every sample batch and then checked to ensure proper quality assurance and quality control.

Qualified person

Dr. Ebert is the qualified person for the Ootsa project as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.

About Surge Copper Corp.

The company owns a 100 interest in the Ootsa property, an advanced-stage exploration project containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open-pit Huckleberry copper mine, owned by Imperial Metals. The Ootsa property contains pit-constrained National Instrument 43-101-compliant resources of copper, gold, molybdenum and silver in the measured and indicated categories. There are two drills working at the project with drilling focused on defining the extent of the large West Seel deposit and testing new targets along the Seel trend.

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